Written by ForexBrokers.com
In this head to head comparison of Interactive Brokers vs FXCM, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 51% and 89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Interactive Brokers vs. FXCM: Interactive Brokers was founded in 1977, while FXCM began in 1999. Both are publicly traded and neither is a bank. On ForexBrokers.com’s Trust Score, Interactive Brokers earns 99/99 and FXCM scores 95/99—both sit in the 90–99 “highly trusted” range (80–89 trusted, 70–79 average risk, 60–69 high risk, under 59 not trusted).
Regulation and licenses: Interactive Brokers holds 8 Tier-1 licenses (highly trusted regulators) and 2 Tier-2 licenses (trusted regulators). FXCM holds 4 Tier-1 licenses and 2 Tier-2 licenses. In simple terms, both brokers operate under strong oversight, with Interactive Brokers carrying more top-tier approvals while FXCM still offers broad regulatory coverage.
| Feature |
Interactive Brokers
|
FXCM
|
|---|---|---|
| Year Founded | 1977 | 1999 |
| Publicly Traded (Listed) | Yes | Yes |
| Bank | No | No |
| Tier-1 Licenses | 8 | 4 |
| Tier-2 Licenses | 2 | 2 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 0 |
Interactive Brokers uses a commission-based pricing model for forex instead of marking up the spread. Typical commissions range from $16 to $40 per million round turn ($8–$20 per side), with a $2 minimum per side; trading smaller than 100,000 units becomes proportionally more expensive because of that minimum. During Q3 2024, the average EUR/USD spread we observed at IBKR was 0.19 pips, or about 0.59 pips all-in after commission for a standard 100,000-unit trade (the commission-equivalent is roughly 0.40 pips). High-volume traders can unlock discounts: the per-order minimum drops to $1.50 when monthly forex volume exceeds $1 billion and can reach $1 at $5 billion. IBKR Lite and IBKR Pro both support forex, but neither is commission-free. Rating: 5 out of 5 stars; Ranking for Commissions and Fees: #2 of 63.
FXCM’s forex pricing is slightly higher than the industry average on standard accounts, with time-weighted average EUR/USD spreads of 0.78 pips in the EU, U.K., and Australia (and 1.38 pips for its St. Vincent and the Grenadines entity) as of May 2024. Its commission-based accounts showed a 0.28-pip core spread (excluding commission), but the effective spread was closer to 0.74 pips after adding the round-turn commission. Active-trader programs can improve pricing: the FXCM Active Trader Rebate Program (not available in the U.K. or EU) pays $5–$25 per million traded, and in the U.K. a separate active-trader schedule can drop commission to $2.50 per side ($5 round turn) with a $25,000 balance and roughly $50 million in monthly volume. Keep in mind spreads can widen during rollover or volatile conditions. Rating: 4.5 out of 5 stars; Ranking for Commissions and Fees: #17 of 63.
Bottom line on fees: Interactive Brokers tends to offer the lower all-in cost for EUR/USD at typical trade sizes thanks to tight observed spreads and a transparent commission schedule with volume discounts. FXCM narrows the gap on its commission-based pricing and with active-trader discounts, but its standard pricing generally runs higher. Cost-focused, high-volume forex traders are likely to find IBKR more economical, while FXCM can be compelling if you qualify for its active-trader pricing and prefer its account options.
| Feature |
Interactive Brokers
|
FXCM
|
|---|---|---|
| Minimum Deposit | $0 | Starts from $50 |
| Average spread (EUR/USD) - Standard account | 0.226 | 0.9 |
| All-in Cost EUR/USD - Active | 0.226 | 0.8 |
| Non-wire bank transfer | Yes | Yes |
| PayPal (Deposit/Withdraw) | No | Yes |
| Skrill (Deposit/Withdraw) | No | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
Interactive Brokers offers a far wider range of investments than FXCM, with 8,500 tradeable symbols and 90 forex pairs versus FXCM’s 440 symbols and 46 pairs. Both support forex trading (CFD or spot), but only Interactive Brokers lets you buy exchange-traded securities on U.S. and international exchanges—so you can purchase shares like Apple on NASDAQ or Vodafone in London. For crypto, Interactive Brokers enables buying actual cryptocurrencies, while FXCM provides crypto exposure through CFDs rather than owning the coins.
If social features matter, FXCM supports copy trading, while Interactive Brokers does not. For overall range, ForexBrokers.com rates Interactive Brokers 5 stars and ranks it #1 out of 63 brokers; FXCM earns 4.5 stars and ranks #21. Choose Interactive Brokers if you want the broadest market access and real crypto ownership; pick FXCM if you want copy trading with a CFD-focused offering.
| Feature |
Interactive Brokers
|
FXCM
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 8500 | 440 |
| Forex Pairs (Total) | 90 | 46 |
| U.S. Stocks (Shares) | Yes | No |
| Global Stocks (Non-U.S. Shares) | Yes | No |
| Copy Trading | No | Yes |
| Cryptocurrency (Underlying) | Yes | No |
| Cryptocurrency (CFDs) | No | Yes |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
Dive deeper: Best Copy Trading Platforms.
Interactive Brokers and FXCM both check key boxes for traders who want flexible platforms and tools. Each offers a free paper trading (demo) account, a proprietary in-house platform, a Windows desktop download, and a web-based platform. You can place trades directly from charts with either broker. Key differences: FXCM supports copy trading and MetaTrader 4 (MT4), while Interactive Brokers does not. Neither broker offers MetaTrader 5 (MT5).
In independent testing by ForexBrokers.com, both Interactive Brokers and FXCM earned 5 stars for Trading Platforms and Tools. Interactive Brokers ranks #2 out of 63 brokers in this category, while FXCM ranks #4. In short, both are top-tier choices; pick Interactive Brokers if you want a highly rated in-house experience, or choose FXCM if you need MT4 and copy trading.
| Feature |
Interactive Brokers
|
FXCM
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Copy Trading | No | Yes |
| MetaTrader 4 (MT4) | No | Yes |
| MetaTrader 5 (MT5) | No | No |
| Charting - Indicators / Studies (Total) | 155 | 115 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Interactive Brokers and FXCM both offer iPhone and Android trading apps with price alerts and watchlist syncing between mobile and your online account. For charting tools, Interactive Brokers includes 155 technical studies compared with FXCM’s 59. You can draw trendlines in both apps, but only FXCM auto-saves your drawings; Interactive Brokers does not.
In testing by ForexBrokers.com, Interactive Brokers’ mobile app earned 5 stars and ranked #4 out of 63 brokers, while FXCM received 4.5 stars and ranked #16. Choose Interactive Brokers if you want a larger set of indicators and deeper analysis on mobile, or pick FXCM if autosaving charts and a simpler toolkit match your workflow. Both deliver core essentials like alerts and synced watchlists on iOS and Android.
| Feature |
Interactive Brokers
|
FXCM
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|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 155 | 59 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | No | Yes |
Dive deeper: Best Forex Trading Apps.
When comparing Interactive Brokers and FXCM in terms of market research offerings, both platforms provide daily market commentary and access to forex news from esteemed sources such as Bloomberg and Reuters, ensuring traders stay informed with the latest updates. Additionally, both brokers offer technical analysis tools from Trading Central, as well as sentiment-based trading tools that display the ratio of long and short positions on various instruments. They also each include an economic calendar to track global news events, essential for traders who want to align their strategies with market movements. However, a difference arises with research tools from Acuity Trading, where Interactive Brokers holds an advantage, offering access to features like Signal Centre, which is not available with FXCM.
Evaluating their research quality, Interactive Brokers receives a stellar rating of 5 stars, marking it as a top choice for in-depth market analysis. It ranks impressively as the third broker out of 63 for research on ForexBrokers.com. On the other hand, FXCM offers reliable market insights with a notable rating of 4.5 stars, securing the 11th position for research in the same review. This distinction highlights Interactive Brokers’ slightly superior standing in research offerings, making it a preferred option for traders who prioritize state-of-the-art research features and comprehensive market analysis.
| Feature |
Interactive Brokers
|
FXCM
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | No |
| Trading Central | Yes | Yes |
| Client sentiment data | Yes | Yes |
| TipRanks | Yes | Yes |
| Acuity Trading | Yes | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
Interactive Brokers vs FXCM for beginner education: both brokers publish forex and CFD education and host monthly online webinars. Each offers at least 10 beginner videos and at least 10 advanced videos, helping new traders move from basics to more complex topics. According to ForexBrokers.com, Interactive Brokers earns 5 stars for Education and ranks #1 out of 63 brokers, while FXCM scores 4.5 stars and ranks #13.
For beginners, Interactive Brokers stands out with a top-rated learning path and frequent webinars that make it easier to build skills. FXCM also delivers helpful videos and live sessions each month; it’s a solid option if you want an accessible curriculum, though its Education rank trails Interactive Brokers. In both cases, you’ll find content focused on forex and CFDs, including core concepts, strategies, and platform guidance.
| Feature |
Interactive Brokers
|
FXCM
|
|---|---|---|
| Webinars | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that Interactive Brokers is better than FXCM. Interactive Brokers finished with an overall rank of #2, while FXCM finished with an overall rank of #10.
Interactive Brokers is a highly trusted multi-asset broker with an extensive offering of tradeable global markets. It delivers competitive fees and high-quality research and education, as well as a modern, institutional-grade trading platform suite.
| Feature |
Interactive Brokers
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FXCM
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| Trust Score | 99 | 95 |
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Interactive Brokers vs FXCM: Interactive Brokers allows investors to buy actual (delivered) cryptocurrency but does not offer cryptocurrency CFDs, while FXCM offers cryptocurrency CFDs but does not support buying delivered crypto.
Interactive Brokers vs FXCM deposit and withdrawal options: both offer ACH/SEPA and bank wire transfers, FXCM additionally supports PayPal and Skrill while Interactive Brokers does not, and Visa/Mastercard availability is not specified for either broker.
Please note:
We review each broker’s overall global offering – a “Yes” checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly.
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| Trust Score | 99 | 95 | |
| Winner | check_circle | ||
| Review | Interactive Brokers Review | FXCM Review |
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| Regulation | Interactive Brokers | FXCM | |
|---|---|---|---|
| Trust Score | 99 | 95 | |
| Year Founded | 1977 | 1999 | |
| Publicly Traded (Listed) | Yes | Yes | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 8 | 4 | |
| Tier-2 Licenses | 2 | 2 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 0 |
| Tier-1 Licenses (Highly Trusted) | Interactive Brokers | FXCM | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | Yes | Yes | |
| Hong Kong (SFC Authorised) | Yes | No | |
| Japan (FSA Authorised) | Yes | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | Yes | ||
| United Kingdom (U.K.) (FCA Authorised) | Yes | Yes | |
| USA (CFTC Authorized) | Yes | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | Interactive Brokers | FXCM | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| Israel (ISA Authorised) | No | Yes | |
| South Africa (FSCA Authorised) | No | Yes | |
| UAE (DFSA, FSRA, or CMA Authorised) | Yes | No | |
| India (SEBI Authorised) | Yes | No | |
| Jordan (JSC Authorised) |
| Investments | Interactive Brokers | FXCM | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 8500 | 440 | |
| Forex Pairs (Total) | 90 | 46 | |
| U.S. Stocks (Shares) | Yes | No | |
| Global Stocks (Non-U.S. Shares) | Yes | No | |
| Copy Trading | No | Yes | |
| Cryptocurrency (Underlying) | Yes | No | |
| Cryptocurrency (CFDs) | No | Yes | |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
| Cost | Interactive Brokers | FXCM | |
|---|---|---|---|
| Average spread (EUR/USD) - Standard account | 0.226 | 0.9 | |
| All-in Cost EUR/USD - Active | 0.226 | 0.8 | |
| Inactivity Fee | No | Yes | |
| Order execution: Agency | Yes | Yes | |
| Order execution: Market Maker | No | Yes |
| Funding | Interactive Brokers | FXCM | |
|---|---|---|---|
| Minimum Deposit | $0 | Starts from $50 | |
| PayPal (Deposit/Withdraw) | No | Yes | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| Non-wire bank transfer | Yes | Yes |
| Trading Platforms | Interactive Brokers | FXCM | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Copy Trading | No | Yes | |
| MetaTrader 4 (MT4) | No | Yes | |
| MetaTrader 5 (MT5) | No | No | |
| cTrader | No | No |
| Trading Tools | Interactive Brokers | FXCM | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 155 | 115 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Interactive Brokers | FXCM | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Price Alerts | Yes | Yes | |
| Mobile Watchlist [DELETED] | |||
| Mobile Watchlists - Syncing | Yes | Yes | |
| Mobile Charting - Indicators / Studies | 155 | 59 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | No | Yes | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | Interactive Brokers | FXCM | |
|---|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | No | |
| Trading Central | Yes | Yes | |
| TipRanks | Yes | Yes | |
| Client sentiment data | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Interactive Brokers | FXCM | |
|---|---|---|---|
| Webinars | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes |
| Major Forex Pairs | Interactive Brokers | FXCM | |
|---|---|---|---|
| GBP/USD [DELETED] | |||
| USD/JPY [DELETED] | |||
| EUR/USD | Yes | Yes | |
| USD/CHF [DELETED] | |||
| USD/CAD [DELETED] | |||
| NZD/USD [DELETED] | |||
| AUD/USD [DELETED] | |||
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| Overall | Interactive Brokers | FXCM | |
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| Trust Score | 99 | 95 | |
| Winner | check_circle | ||
| Review | Interactive Brokers Review | FXCM Review |
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